Kongsberg Automotive

Board/Management Information • Jan 31, 2024

Kongsberg Automotive appoints Linda Nyquist-Evenrud as the new President & CEO

Kongsberg Automotive appoints Linda Nyquist-Evenrud as the new President & CEO

Zurich, January 31, 2024: The Board of Directors (BOD) of Kongsberg Automotive

ASA (KA) has appointed Linda Nyquist-Evenrud as the President & CEO of KA,

effective immediately. The BOD appointed Nyquist-Evenrud as the interim

President & CEO on July 24, 2023.

"On behalf of the BOD of KA, I am pleased to officially announce Linda Nyquist

-Evenrud as the new President & CEO of KA," says Peter Thostrup, Chair of KA's

BOD, adding, "Nyquist-Evenrud brings over two decades of experience in the

automotive industry, including 16 years in KA in various leadership positions.

She led KA's most profitable business unit and served as the Executive Vice

President of the Flow Control Systems business unit until 2023. We, the newly

appointed BOD of KA, have worked closely with Nyquist-Evenrud and observed her

performance in the interim role. We see her as a strong and respected team

builder and have full confidence that her leadership will take KA forward and

create a company with improved profitability and cash flow."

Thostrup adds, "Nyquist-Evenrud's background and experience make her an

automotive industry veteran. Her leadership demonstrates a deep understanding of

KA's strategic objectives and her commitment to the company's mission. As the

new President & CEO of KA, Nyquist-Evenrud is tasked with expanding KA's market

position, strengthening KA's geographic footprint, controlling costs, while

maintaining focus on innovation, and ensuring that KA has a growth path going

forward."

"I am honored to be appointed as the new President & CEO of KA," says Nyquist

-Evenrud adding, "It has been a pleasure to serve KA as the interim President &

CEO for the last six months. As the new President & CEO, I look forward to

continuing to work with the BOD, shareholders, customers, and KA colleagues. My

priority is to continue to take concrete measures to improve profitability,

reduce costs, explore options for mitigating earnings pressure, and further

develop the company's strong market position in areas where KA excels.

Media and Communications Contact:

Therese Sjöborg Skurdal - Director Corporate Communications

therese.skudal@ka-group.com

+47 982 14 059

IR & Media Contact:

Mads Langaard - Head of Investor Relations

mads.langaard@ka-group.com

+47 905 81 264

About Kongsberg Automotive ASA

Kongsberg Automotive provides cutting-edge technology to the global vehicle

industry. We drive the global transition to sustainable mobility by putting

engineering, sustainability, and innovation into practice. Our product portfolio

includes driver and motion control systems, fluid assemblies, and industrial

driver interface products. Find more information at:

kongsbergautomotive.com (http://www.kongsbergautomotive.com)